Coronavirus: How to fix pandemic bonds

It is hardly surprising that the terms of the World Bank’s pandemic bond have attracted criticism.

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With the coronavirus pandemic touching nearly every country in the world, the pandemic bond that the World Bank issued in 2017 has been under scrutiny. Despite more than 735,000 cases of Covid-19 and nearly 35,000 deaths attributed to it as of Monday March 30, the bonds have still not been triggered.

It’s hardly surprising that this has attracted criticism: intuitively it seems like nonsense.

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